LAHORE - The business community has criticised the Federal Board of Revenue (FBR) for issuing ‘undue’ notices to business community, creating unrest among them.

“The Pakistan Industrial and Traders Associations Front (PIAF) had received a number of complaints of FBR officials using arm-twisting tactics against businessmen under the grab of sales tax act 38b and 40b, which grant them special powers to raid the business premises,” said PIAF Chairman Irfan Iqbal Sheikh.

He said raids on industrial units and shops would hamper the economic activities. He said that Federal Finance Minister Senator Ishaq Dar should take notice of the whole situation and stop the FBR officials from entering the business premises. If there is an urgent need to take action against any particular industrial unit, the FBR officials should be directed to take concerned association on board, he suggested.

Sheikh, in a statement along with senior vice chairman Tanveer Sufi and vice chairman Shahzeb Akram, said that sales tax acts 38b and 40b are being misused by the Federal Board of Revenue, which should be stopped immediately.

The PIAF chairman said that there is a dire need to promote economic vitality by strengthening private sector as internal dynamism has faded away due to energy shortage. He said that rising risk perception about investing into Pakistan is hitting hard the entire economy and needs to be tackled through a new policy approach by involving businessmen in the country.

He said that repeated issuance of notices was not only hitting their businesses hard but also damaging the government’s drive to widen the tax net. He said all the leading economies are giving incentives to expedite economic activities in their respective countries but in Pakistan the people sitting at the helm of affairs are doing otherwise at this point in time when almost all the businesses were facing a number of internal and external pressures.